Strong performance reflects resilience of business and brands
- Record in-home (CPG) sales growth driven by developed markets
- CPG performance largely offsets away-from-home
- Good recovery in away-from-home starting in June
- Adjusted EBIT organic growth of 10.5% to EUR 642 million
- Underlying profit increased by 12.0%; underlying EPS of EUR 0.791
- Leverage improved to 3.4x, from 4.2x at end of FY 19
- Successful completion of IPO
AMSTERDAM, Aug 4 (Bernama-BUSINESS WIRE) --
A message from Casey Keller, CEO of JDE Peet’s
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005830/en/
“JDE Peet’s delivered strong performance in the first half of 2020, demonstrating the resilience of our business and brands despite the unprecedented economic and social disruption of COVID-19. Our balanced coffee and tea portfolio allowed us to quickly adapt to rapidly changing consumer habits, following the dynamic shift of cups from the away-from-home to the in-home environment. Early in the crisis, our team took proactive steps to ensure the health and safety of employees worldwide, and protect our business operations, enabling us to continue serving customers and consumers without supply disruption. Despite a volatile environment, we delivered very strong adjusted EBIT growth, reflecting our pure-play focus as well as a disciplined approach to cost management. In addition, we are well on track to meet our deleveraging goal. Starting in June, we’ve seen a good recovery in our away-from-home businesses as local markets begin to recover from lockdowns. Given our strong portfolio of products and channels, we are uniquely positioned to continue to gain market share as we pivot to meet the needs and opportunities of our customers and consumers around the world.”
A message from Casey Keller, CEO of JDE Peet’s
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005830/en/
“JDE Peet’s delivered strong performance in the first half of 2020, demonstrating the resilience of our business and brands despite the unprecedented economic and social disruption of COVID-19. Our balanced coffee and tea portfolio allowed us to quickly adapt to rapidly changing consumer habits, following the dynamic shift of cups from the away-from-home to the in-home environment. Early in the crisis, our team took proactive steps to ensure the health and safety of employees worldwide, and protect our business operations, enabling us to continue serving customers and consumers without supply disruption. Despite a volatile environment, we delivered very strong adjusted EBIT growth, reflecting our pure-play focus as well as a disciplined approach to cost management. In addition, we are well on track to meet our deleveraging goal. Starting in June, we’ve seen a good recovery in our away-from-home businesses as local markets begin to recover from lockdowns. Given our strong portfolio of products and channels, we are uniquely positioned to continue to gain market share as we pivot to meet the needs and opportunities of our customers and consumers around the world.”
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